Saturday, December 9, 2006

The International Federation of Netball Associations (IFNA) has stripped the rights from Fiji to host the World Netball Championships in 2007 because of the military coup that took place on December 5.

The Netball Championships were to take place between 10 July and 21 July, 2007 at Fiji’s capital, Suva.

IFNA president, Molly Rhone, said: “It is deeply regretted that we have had to take this decision, recognising the hard work that has been done by the Organising Committee in preparing to host their first senior World Championships.”

“We know that many supporters around the world were looking forward to this great sporting event in Fiji,” Ms Rhone said.

Alisi Tabete, president of Fijian netball, said that today is a very sad day for sports and that they had wasted many years preparing to host the championships. “We had been working on this event from 1999 and right now I am trying to reason with myself as to why the championships has been lost and just thinking ‘what if’.”

“We have to think positive and am still thankful that we had been given a chance for the champs,” Ms Tabete said.

The IFNA is yet to announce a replacement venue for the games. Ms Rhone said: “IFNA will now be working assiduously to find a new venue to host the Championships.”

Thursday, December 31, 2009

The Icelandic Prime Minister Jóhanna Sigurðardóttir and her coalition government narrowly escaped a commitment to resign as a €3.8 billion bill to repay British and Dutch savers following the collapse of Icesave online banking passed. The vote margin was only three votes.

Only a matter of hours before the anticipated final vote, Wikileaks announced the disclosure of one of 23 documents suppressed by the Icelandic Minister of Finance: an apparent legal summary of meetings between Icelandic and EU representatives held in Brussels in November 2008. The leaked document discusses the then-assessed liabilities of Iceland at 60% of GDP, considerably higher than the reported 40% which repaying Icesave deposit holders entails.

Amongst the other details in the report is emphasis of the deep-seated anger of the Icelandic people at the situation around the financial collapse, particularly the UK’s use of anti-terrorism legislation in its approach to the country’s banks. Iceland’s interpretation of the situation, and its financial treaty obligations with the EU, considered foreign deposits lost through force majeure. All 27 EU members disagreed with Iceland’s interpretation and Peter Mandelson, although he resigned from the Barroso Commission in October, presented the legal position that Iceland could not pass legislation that did not ensure treaty-mandated minimum balance returns from failed Icelandic banks.

Leaked private communication from Ingibjörg Sólrún Gísladóttir, Iceland’s then-foreign minister, compared the potential liabilities the country faced with the reparations imposed on Germany by the Treaty of Versailles in the wake of World War I.

Three banks failed in the financial crisis: Kaupthing, Glitnir, and Landsbanki. As the list of creditors emerged it was found that, among others, UK councils had around £900 million with the banks. Landsbanki agreed to repay the majority of funds held, giving council depositors priority status. Approximately £200 million on deposit with Glitnir is at-risk; the bank has stated the councils will be treated equally with all other creditors seeing them likely to only recover 30% of the amount Glitnir held.

Kaupthing faces other difficulties. The UK’s Serious Fraud Office began an investigation earlier this month into the bank’s UK activities. At issue are allegations savers were misled into selecting one particular account type, plus suspicious financial activity suggesting substantial amounts were moved out of the bank in the days prior to its collapse.

At present, UK councils have received little more than ten percent of their over £900 million deposits. They are among over 8,500 creditors claiming a staggering total of £20 billion. The largest single claimant is the British Depositors’ and Investors’ Guarantee Fund seeking €5 billion, and, of some note, Formula One racing team Williams claiming around £10 million in unpaid sponsorship from Glitnir who took on the liability from the Icelandic buyers of Hamleys.

Debt to 84% government-owned Royal Bank of Scotland (RBS) by Glitnir stands at around £500 million; much of the actual debt written off in 2008 as RBS posted £24 billion losses. Further write-offs by the bank are expected to total less than £50 million.

Icelanders resented the discovery that fifteen senior ex-employees of Landsbanki claim €14 million between them, including a single claim of €2.7 million. Suspicion exists that the banks arranged substantial interest-free loans for various of their shareholders and executives.

Today’s announcement of the Icelandic government’s agreement to pay out €3.8 billion keeps their application for EU membership on-track, although each one of the country’s 320,000 citizens effectively faces a €12,000 debt.

Tuesday, March 21, 2017

A freak accident caused twenty deaths and some injuries, according to officials, at the well-known Kintampo waterfall, in Ghana, on Sunday afternoon local time. Those affected were reportedly school students from Wenchi Senior High School on a supervised trip, and several tourists, who were swimming at the time of a rainstorm and strong winds, bringing down a tree and crushing victims.

Eighteen students, according to Ghana National Fire Service spokesman Prince Billy Anaglate, were killed at the falls, while another two were rushed to hospital and died in care. Varying reports indicated possibly up to 18 people remaining in a critical condition who were trapped under the tree, who were then rescued and rushed to hospital, including a Wenchi Senior High School administrator.

Anaglate said the wind uprooted trees, which fell on swimmers.

Students’ bodies have been sent to the Kintampo Municipal Hospital’s morgue.

Monday, December 21, 2015

Munich-based football club Bayern Munich yesterday announced their current manager Pep Guardiola would remain only to this season’s end. Former Real Madrid manager Carlo Ancelotti would replace the Spaniard next season.

Bayern under Guardiola won back-to-back Bundesliga titles and one German Cup since summer of 2013. Ancelotti, winner of three UEFA Champions Leagues — two for A.C. Milan, one for Real Madrid — would sign for three years with the German Champions. Besides the Champions Leagues, he also won the Premier League with Chelsea F.C.

44-year-old Guardiola previously coached the current FIFA Club World Cup champions FC Barcelona, and won the Champions League with the Catalonia club twice.

Karl-Heinz Rummenigge, the club’s Chief Executive, praised Guardiola’s contributions to Bayern after confirming the news. 56-year-old Ancelotti said “It’s an honour for me to be part of this great club next season, FC Bayern Munich. When I knew of the club’s interest I didn’t want to consider any other offer. I honestly wish FC Bayern Munich and my friend Pep Guardiola the best for the current season.” He also thanked the Club via tweet yesterday evening, “Thanks ! @FCBayernEN #MiaSanMia”.

Bayern player Thomas Müller said “We’ll see what happens. Regardless of who is coach, the squad just wants to keep winning”. Bayern is now scheduled to face Italian Juventus F.C. in the 2015–16 UEFA Champions League Last 16.

Wednesday, December 22, 2004

Opened in limited release on December 3, 2004 (New York City and Los Angeles, 145 screens)

House of Flying Daggers is a martial-arts action/romance film.

Thursday, July 3, 2014

Ian Narev, the CEO of the Commonwealth Bank of Australia, this morning “unreservedly” apologised to clients who lost money in a scandal involving the bank’s financial planning services arm.

Last week, a Senate enquiry found financial advisers from the Commonwealth Bank had made high-risk investments of clients’ money without the clients’ permission, resulting in hundreds of millions of dollars lost. The Senate enquiry called for a Royal Commission into the bank, and the Australian Securities and Investments Commission (ASIC).

Mr Narev stated the bank’s performance in providing financial advice was “unacceptable”, and the bank was launching a scheme to compensate clients who lost money due to the planners’ actions.

In a statement Mr Narev said, “Poor advice provided by some of our advisers between 2003 and 2012 caused financial loss and distress and I am truly sorry for that. […] There have been changes in management, structure and culture. We have also invested in new systems, implemented new processes, enhanced adviser supervision and improved training.”

An investigation by Fairfax Media instigated the Senate inquiry into the Commonwealth Bank’s financial planning division and ASIC.

Whistleblower Jeff Morris, who reported the misconduct of the bank to ASIC six years ago, said in an article for The Sydney Morning Herald that neither the bank nor ASIC should be in control of the compensation program.

Friday, May 1, 2009

At approximately 06:00 a.m. (00:30 GMT) Wednesday, between four and seven people were killed when an Electric Multiple Unit (EMU) passenger train crashed into a stationary freight train at Vyasarpadi Jeeva station, in Chennai, India. Between eleven and twenty persons were injured, and rushed to General Hospital in Chennai.

Officials are unsure of the number of persons aboard the passenger train, which was operated by an unknown person. “It is not clear who operated (it),” said S. Jayanth, acting general manager of Southern Railway. The operator of the EMU train was not in the train when it left 15 minutes to half an hour before the scheduled departure time. It is said some passengers did board the passenger train.

The EMU train ignored all signals, and drove about 7 kilometers (4 mi) at high speed, jumping tracks, before colliding with the goods train.

The driver of the goods train, Arumugam, has been confirmed as one of those who has died. The goods train was traveling between Arakkonam to Chennai. The motorman, guard and assistant jumped from the goods train sustaining fractures.

“We heard a loud noise and saw several compartments in flames. The smell emanating from bodies from the mangled coaches was nauseating,” said M.N. Selvi, a nearby resident.

The platforms at the Vyasarpadi Jeeva station were destroyed, and electrical cables were torn down. The EMU train caught fire in the collision destroying two compartments completely. The other compartments were thrown from the tracks. The freight train was loaded with oil tanks, however reports indicate that only the EMU train was set ablaze.

All train services were canceled for a time on one of the busiest rail lines of India. “Train services are disrupted due to the mishap but we hope to restore the services in two to three hours time,” an Indian Railways spokesperson.

Railways Minister Lalu Prasad announced that an inquiry will be held.